N, NHY NO • Mainfirst downgrade SFER IM, Nordea downgrade SWECB SS, Numis upgrade PSN LN • UBS downgrade KINVB SS, RMV LN, FNTN GY, upgrade AVV LN, SAP GY, Lampe upgrade GIB GY Reporting Pre-Open: MON, STZ, AZZ GBX, MSM, RPM, SCHN, SEED, UNF Reporting Post-Close: BBBY, GPN, MG, NAUH, RELL, RT, VOXX, W

elped by solid numbers from GOOG, IBM, CREE after the close in the US (note XLK in US has underperformed only +2.15% ytd but should act well today) (SAP GY also opened lower but now +2.3% despite reporting inline with recent pre-announcement and guiding touch lower). Healthcare +1.28% & Food/Beverages